Cryptocurrency markets suffered significant losses as escalating geopolitical conflicts in the Middle East triggered broad-based sell-offs. Bitcoin, Ethereum, and Solana led the downturn amid heightened investor anxiety and rapid liquidations.
Bitcoin fell below the crucial $100,000 psychological threshold, recording a 6% weekly decline. The drop reflected intensified risk-off sentiment as traders shifted capital away from volatile assets during the regional crisis.
Ethereum plunged over 14% weekly to $2,184, with 24-hour trading volume surging to $29.12 billion. The volume spike indicated accelerated position unwinding across derivatives markets as volatility intensified.
Solana faced even steeper declines, plummeting more than 15% within 24 hours to $128.95. Trading volume jumped 48% to $5.24 billion, signaling widespread investor exits from altcoin positions.
The total cryptocurrency market capitalization shed over $200 billion in 36 hours, now standing at $3.04 trillion. This 5% contraction represents one of the most significant broad-market retreats in recent months.
Geopolitical instability served as the primary catalyst, with U.S. airstrikes on Iranian nuclear facilities and subsequent retaliatory actions by Iran amplifying global risk aversion. Market analysts note cryptocurrencies remain particularly sensitive to such macro-political shocks.